The global hot and cold therapy packs market was valued at US$ 687.0 Mn in 2015, and is expected to reach US$ 1,354.7 Mn by 2024, expanding at a CAGR of 7.8% from 2016 to 2024.

Hot and cold therapy is used for reducing swelling, improving blood circulation, and muscle relaxation, thus providing comfort from any injury or other causes. It is the most effective, least expensive, safest and quickest mode of treatment relief. The major key drivers for the hot and cold therapy packs are increase in incidence of sport injuries, rise in geriatric population and preference for non-invasive pain management.

Geriatric patients suffering from chronic illness prefer home care products such as heat/cold therapy packs instead of frequent visits to the hospital or drug administration. There is a growing preference for non-invasive and non-addictive therapies, which act as an important driving factor to the market. Preference for non-pharmacological treatment for pain especially in aging population is key driver for growth of hot and cold therapy packs market.

There is an increase in incidence of injuries associated with pain observed in different age group due to varied reason. Pain is linked with a varied range of injuries and diseases and sometimes disease in itself. The use of the hot and cold therapy packs is preferred as safer option over pharmaceuticals.